OnDemand is a dedicated regulatory advice service for law firms, professional advisers and their clients based on our firm's national reputation for advising on legal services and financial services regulation.
Examples of advice on legal services projects & transactions are:
Authorisation applications & regulatory structuring
- We assisted a new law firm, pursuing a novel area of financial services litigation, in its application to become licenced by the SRA as an alternative business structure.
- To obtain private equity in investment and facilitate its growth plans, we supported an alternative legal services provider in its application to become licenced by the SRA as an alternative business structure.
Legal expenses insurance program & insurance distribution by legal professionals
- We advised a law firm on the terms of a no search indemnity insurance policy for its mortgagee client in relation to the acquisition of blocks of residential buy-to-let flats, which advice enabled the law firm to give good certificate of title ahead of drawdown of funds by its mortgagor client.
- We acted for several law firms, each of whom who had recommended to their clients they take out a policy underwritten by a Gibraltar based ATE legal expenses insurance company, on the terms of a draft commutation agreement and a draft indemnity deed following the liquidation of the Gibraltar insurer.
- We provided a commercial and regulatory analysis of a suite of regulated contracts (agency agreements, policy wording, consumer credit loan agreements) to a group of law firms and a claims handling company in connection with disputes with the ATE legal expenses insurer and consumer credit disbursement funder.
Regulated claims management activity, lead generation, introducer, referral & outsourced marketing arrangements
- We prepared a compliant outsourced services agreement and international data transfer agreement between an international class action litigation law firm and a digital marketing company in relation to the development of a lead generation chatbot.
- We provided advice to several law firms on multiple rounds of structured finance relating to litigation funding with an aggregate value greater than £250,000,000, stemming from overseas institutional investors. In addition to advising on the terms of the funding, we provided the law firms with guidance on the regulatory obligations owed to their clients, to use loans to fund the costs of litigation.
Professional indemnity insurance
- We carried out a policy wording review and delivered technical successor practice to a property litigation law firm in relation to a claim made against its profession indemnity insurance arising out of the conduct of a prior practice. Our advice helped secure cover for the firm as a successor practice, which the insurer had first refused.
- We delivered successor practice advice to law firm principals in anticipation of a distressed transfer of business to a successor practice firm in anticipation of SRA intervention and liquidation of the prior practice.
- We established a trust corporation to support the litigation, court of protection, and lasting power of attorney services of a Legal 500 ranked claimant law firm. We prepared a full suite of governance and ancillary documents and advised on corporate structuring, capital requirements, and the regulatory implications for the law firm and its lawyers of having a trust corporation group company.
Legal ombudsman & regulator complaints
- We advised a regional law firm in relation to the complaint process and the points in mitigation which could be raised to affect the outcome of a Legal Ombudsman complaint.
Barristers, barristers’ chambers & BSB authorised entities
- We advised a Northern powerhouse set of barristers’ chambers to secure the recovery of circa £100,000 of counsels’ fees tied up in the client account of a law firm in liquidation.
- We provided regulatory and corporate structuring advice to Unit Law in its application to become a BSB licensed body.
View some OnDemand testimonials here.